Published on 7/8/2002 in the Prospect News Convertibles Daily.
New Issue: Goldman prices $12.1 million 6.5% exchangeables linked to Texas Instruments
New York, July 8 - The Goldman Sachs Group, Inc. priced $12.1 million of 6.5% mandatory exchangeable notes due 2003 linked to Texas Instruments Inc. stock, according to a filing with the Securities and Exchange Commission.
The securities, sold from Goldman's medium-term notes program, were priced on June 29 via Goldman, Sachs & Co.
At maturity, holders receive the cash value of Texas Instruments stock per exchangeable but with the payout capped at $37.275 per security. They were priced at $24.85.
| Issuer: | The Goldman Sachs Group, Inc.
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| Issue: | Mandatory exchangeable notes
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| Underwriter: | Goldman, Sachs & Co.
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| Amount: | $12,073,993.75
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| Maturity: | July 9, 2003
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| Coupon: | 6.5% payable quarterly beginning Oct. 9, 2002
|
| Price: | Par of $24.85
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| Exchange ratio: | 1 but capped at $37.275
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| Pricing date: | June 28
|
| Settlement: | July 8
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